Claiming your Motor Vehicle Insurance Policy, Types of Motor Insurance

Claiming your Motor Vehicle Insurance Policy, How to Claim Motor Vehicle Insurance. This article is how you can claim your motor vehicle policy when some accident happens and the vehicle gets crashed, processes involved in it, documents required for the claim, different types of the motor vehicles, and the laws regulating the insurance companies to make the claim. It has been mandated by IRDA to take the motor vehicle insurance for each and every individual buying the same. So it becomes very much important for the buyer of the policy to verify the details and in case of wrong happenings, lodge a claim application. Now check more details regarding “Claiming your Motor Vehicle Insurance Policy”

Claiming your Motor Vehicle Insurance Policy

Types of Motor Vehicle Insurance Policy:

There are basically three types of motor vehicle insurance policy. They are:

1. Third Party Claims –

Third party insurance is compulsory for the vehicle owner to get it. These claims are those which cover the damage incurred to others due to the accident that happened due to your fault. The following is the procedure for claiming.

Firstly you need to inform about the accident to the insurance company and police without moving the vehicle from the place of accident.
You need to fill up the Insurance claim with the real facts of the happening of the event.
If you are injured due to the vehicle of others, than the third party insurance of that vehicle needs to be taken and submitted to the insurance company, otherwise your vehicle details needs to be given.
Common Documents and information*

2. Own Damage Claims –

As mentioned above, third party insurance policy is mandatory but the own damage policies are not mandatory and completely on the option of the buyer to take or not. These insurance insures the damages of the own motor vehicle. The procedure for making a claim is as under:

As mentioned above, here also you need to inform the insurance company and policemen immediately.
Now, the insurance company will send surveyor to measure the loss incurred in the accident and other relevant facts.
If the policy is covered under “cash less service”, then you need not require paying to the garage person but the insurance company will pay to them, but if it’s not, then you need to pay but afterwards, the insurance company will reimburse you the expenses subject to the original bills of the expenses incurred.
Provide Common documents and information*
After the claim is received, you need to sign the document called “Claim discharged” and return it to the insurance company.

3. Theft Claims –

This claim is acceptable in case where the motor vehicle is stolen by some person and it seems a natural theft to the insurance company. The procedure for filing the claim is as follows:

Firstly you need to inform the insurance company, police and also the Road Transport Office.
Provide the Common documents and information* to the insurance company
You need to submit the original and all the duplicate keys to the insurance company.
The police will try to trace the vehicle but if they are unable to find the vehicle then they will give you a non-traceable report which is to be provided to the insurance company, through which they would approve your claim.

*Common Documents and Information required –

Copy of FIR ( First Information Report )
Copy of the driving license
Copy of Registration Certificate book
Copy of Insurance Policy
Name of Policy holder
Date and time of Accident
Location of the Certificate
Name and Contact of Witnesses
Name of person driving.

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